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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Jaguar Land Rover's InMotion takes a stab at carsharing

Jaguar Land Rover's new InMotion mobility business aims to capitalize on the growing carsharing boom and develop other forms of alternative transportation. The first pilot programs kick off in the coming months in North America, Europe, and Asia. JLR owns InMotion, but the company acts independently from the automaker. "As a start-up business, InMotion combines the flexibility and pace needed to compete in the ever-changing mobility sector. It allows us to react quickly to new tech and ever-changing customer demands," Adrian Hallmark, JLR's Group Strategy Director, said in a statement. The 30-person firm intends to develop its own answers to upcoming transport problems and also invest in entrepreneurs to develop those solutions. InMotion isn't yet providing many details about what projects the firm expects to tackle, but the Website mentions carsharing and on-demand delivery services. Establishing InMotion shows that JLR doesn't want to fall behind the current trends in the auto industry. Practically every major automaker is currently pursuing future transportation ideas. For example, Ford recently took a very similar approach when it spun off Smart Mobility into a separate startup. BMW also rebranded its DriveNow carsharing service into ReachNow to also add a future ridesharing service. Related Video: JAGUAR LAND ROVER LAUNCHES NEW TECHNOLOGY START-UP InMotion launched to create innovative solutions, helping customers to overcome travel and transport issues Independent business with the agility and independence to react quickly in mobility sector InMotion will create apps and on-demand services Whitley, 11th April 2016: Jaguar Land Rover has launched InMotion, a new technology business that builds apps and on-demand services to overcome modern travel and transport challenges. Next month InMotion will begin real-world testing of a number of different services such as car sharing and car ownership solutions, across North America, Europe and Asia in the coming months. Adrian Hallmark, Group Strategy Director, Jaguar Land Rover said:"With the development of new apps and on-demand services, InMotion provides us with an opportunity to provide engaging and invaluable experiences to both new and existing customers globally." "As a start-up business, InMotion combines the flexibility and pace needed to compete in the ever-changing mobility sector.

Jaguar launches new classic racing series

One-make racing series have become all the rage for customers who want to actually race their exotic sports cars (or competition-spec versions of them, anyway). Ferrari, Maserati, Lamborghini and Aston Martin all offer such programs, and Porsche supports several. Now Jaguar is getting in on the action as well, but instead of turning one of its production models - we're looking at you, F-Type - into a spec racer, it's launching an historic racing series instead.
The 2015 Jaguar Heritage Challenge will be open to cars made by the Leaping Cat marque before 1966, including the C-Type, D-Type, E-Type and Mk I and MkII sedans. The series, which builds on the success of the previous Jaguar E-Type Challenge, will be administered by the Historic Sports Car Club (HSCC) based at Silverstone and will include four races in the UK and one in Europe, with the exact schedule still to be determined.
The program was announced at the launch of the Jaguar Heritage Driving Experience, where Jaguar Land Rover Special Operations director John Edwards was also named chairman of the Jaguar Daimler Heritage Trust, replacing former Jaguar managing director Mike O'Driscoll who chaired the organization for the past five years.